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Organising your ISA’s?

Enables’s IFAs in Bishop’s Stortford remind many of their investors to include ISA’s in their wealth management plans. Every year the Government gives us a tax-free Isa allowance, last year 2014/15 it was £11,880 between April and July, but this has now been boosted to £15,000 under the new Super Isa regime put in place.  You will also be able to move money from an investment ISA into a cash ISA under the new rules or put your whole allowance in a cash ISA. This applies to any money you have invested in previous years. But remember anything you have already put into an ISA for the 2014/15 tax year will already count towards the allowance.

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This is where you might have to start thinking about tax. Any gains within an Isa are free from capital gains tax and everyone has a CGT allowance of £10,900 per year. If you have been investing consistently over time you may be surprised at how much these investments have become worth and holding them in a tax-free wrapper would makes sense.

If you opt to sell all or a large amount of your investments at one time and they are not held in an Isa, then they may be over the capital gains tax limit and liable to tax. Whereas, if you hold them in an Isa you will not be liable and will not even need to fill in a tax form if you sell. Income from investments is also treated in a more tax-friendly way in an Isa. Enable’s IFA’s can help you make the most of your ISA allowance.

Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 – Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.

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